Income Tax Assessment Act 1936
Sections and provisions with full text and the judgments that cite each one.
Section 26BC — Securities lending arrangements
(1) In this section: convertible note: (a) in relation to a company—has the same meaning as in Division 3A; or (b) in relation to a unit trust—means a note issued by the trustee of the unit trust,…
Section 26E — Income from RSAs
(1) All benefits provided in respect of, and amounts that are paid from, an RSA (including amounts taken to be paid from an RSA under subsection (2)) are taken to have an Australian source. (2) If…
Section 26AF — Assessable income to include value of benefits received from or in connection with former paragraph 23(ja) funds or former section 23FB funds
(1) Where: (a) in a year of income and after 19 August 1980, a taxpayer receives or obtains a benefit of any kind out of, or attributable to assets of, a paragraph 23(ja) fund or a section 23FB fund;…
Section 26AG — Certain film proceeds included in assessable income
(1) Where: (a) under a contract entered into on or after 1 October 1980, a taxpayer has expended, or is deemed by former section 124ZAP to have expended, capital moneys in producing, or by way of…
Section 26AH — Bonuses and other amounts received in respect of certain short-term life assurance policies
(1) In this section, unless the contrary intention appears: agreement means any agreement, arrangement or understanding, whether formal or informal, whether express or implied and whether or not…
Section 26AJ — Investment-related lottery winnings to be included in assessable income
(1) If: (a) either: (i) a loan benefit is provided to a taxpayer, or to another person, in respect of a year of income (in this subsection called the current year of income); or (ii) an amount (other…
Section 27H — Assessable income to include annuities and superannuation pensions
(1) Subject to Division 54 of the Income Tax Assessment Act 1997, the assessable income of a taxpayer of a year of income shall include: (a) the amount of any annuity derived by the taxpayer during…
Section 43A — Subdivision has effect subject to provisions of Division 216 of the Income Tax Assessment Act 1997
This Subdivision has effect subject to the provisions of Division 216 of the Income Tax Assessment Act 1997 (which describes cum dividend sales in which a distribution to a member of a corporate tax…
Section 43B — Application of Subdivision to non-share dividends
(1) This Subdivision: (a) applies to a non-share equity interest in the same way as it applies to a share; and (b) applies to an equity holder in the same way as it applies to a shareholder; and (c)…
Section 44 — Dividends
(1) The assessable income of a shareholder in a company (whether the company is a resident or a non-resident) includes: (a) if the shareholder is a resident: (i) dividends (other than non-share…
Section 45 — Streaming of bonus shares and unfranked dividends
Application of section (1) This section applies in respect of a company that, whether in the same year of income or in different years of income, streams the provision of shares (other than shares to…
Section 45A — Streaming of dividends and capital benefits
Application of section (1) This section applies in respect of a company that, whether in the same year of income or in different years of income, streams the provision of capital benefits and the…
Section 45BA — Effect of determinations under section 45B for demerger benefits
(1) If the Commissioner makes a determination under subsection 45B(3), the amount of the demerger benefit, or the part of the benefit, is taken not to be a demerger dividend for the purposes of this…
Section 45B — Schemes to provide certain benefits
Purpose of section (1) The purpose of this section is to ensure that relevant amounts are treated as dividends for taxation purposes if: (a) components of a demerger allocation as between capital and…
Section 45C — Effect of determinations under sections 45A and 45B for capital benefits
(1) If the Commissioner makes a determination under subsection 45A(2) or 45B(3), the amount of the capital benefit, or the part of the benefit, is taken, for the purposes of this Act, to be an…
Section 45D — Determinations under sections 45A, 45B and 45C
Notice by Commissioner of determination (1) If the Commissioner makes a determination under section 45A, 45B or 45C, the Commissioner must give a copy of the determination to the company concerned…
Section 46FA — Deduction for dividends on-paid to non-resident owner
Allowable deduction (1) An amount is allowable as a deduction from the assessable income of a company (the resident company) if: (a) the resident company is paid a dividend (the original dividend)…
Section 46FB — Unfranked non-portfolio dividend account
Company may establish account (1) A company may establish an unfranked non-portfolio dividend account. Account surplus (2) An unfranked non-portfolio dividend account surplus exists for a company at…
Section 47 — Distributions by liquidator
(1) Distributions to shareholders of a company by a liquidator in the course of winding-up the company, to the extent to which they represent income derived by the company (whether before or during…
Section 47A — Distribution benefits—CFCs
(1) Subject to subsection (2), if: (a) a company (in this section called the first company) has profits immediately before a distribution time for a distribution benefit in relation to the first…
Section 51AAA — Deductions not allowable in certain circumstances
(1) Where: (a) an amount is included in the assessable income of a taxpayer of a year of income by section 102-5 of the Income Tax Assessment Act 1997 (about net capital gains) or subsection…
Section 51AEA — Meal entertainment—election under section 37AA of Fringe Benefits Tax Assessment Act 1986 to use 50/50 split method
(1) If a meal entertainment fringe benefit arises for a taxpayer for an FBT year and the taxpayer elects that Division 9A of Part III of the Fringe Benefits Tax Assessment Act 1986 applies to the…
Section 51AGA — No deduction to employee for certain car parking expenses
No deduction (1) A deduction is not allowable to an employee under this Act in respect of expenditure to the extent to which it is incurred in respect of the provision of car parking facilities for a…
Section 51AEB — Meal entertainment—election under section 37CA of Fringe Benefits Tax Assessment Act 1986 to use the 12 week register method
(1) If a taxpayer has made an election under section 37CA of the Fringe Benefits Tax Assessment Act 1986: (a) for each expense incurred in the FBT year by the taxpayer in providing meal…
Section 51AEC — Entertainment facility—election under section 152B of Fringe Benefits Tax Assessment Act 1986 to use 50/50 split method
(1) If a taxpayer has made an election under section 152B of the Fringe Benefits Tax Assessment Act 1986: (a) for each entertainment facility leasing expense incurred in the FBT year by the taxpayer,…
Section 51AD — Deductions not allowable in respect of property used under certain leveraged arrangements
(1) In this section: arrangement includes: (a) any agreement, arrangement, understanding, promise or undertaking, whether express or implied, and whether or not enforceable, or intended to be…
Section 51AF — Car expenses incurred by employee
(1) Where: (a) during a particular period, an employer provides a car for the exclusive use of a person who is, or of persons any of whom is, an employee of the employer or a relative of such an…
Section 51AH — Deductions not allowable where expenses incurred by employee are reimbursed
(1) Where: (a) either of the following subparagraphs applies: (i) a person makes a payment in discharge, in whole or in part, of an obligation of the taxpayer to pay an amount to a third person in…
Section 51AJ — Deductions not allowable for private component of contributions for fringe benefits etc.
(1) Where: (a) any of the following benefits is provided in respect of the employment of an employee of an employer: (i) an airline transport benefit; (ii) a board benefit; (iii) a loan benefit; (iv)…
Section 51AK — Agreements for the provision of non-deductible non-cash business benefits
(1) Subject to this section, where: (a) under an agreement: (i) a taxpayer incurs expenditure; and (ii) a non-cash business benefit is provided to the taxpayer or another person; and (b) that benefit…
Section 52 — Loss on property acquired for profit-making
(1AA) This section does not apply to a loss arising in the 1997-98 year of income or a later year of income from the carrying on or carrying out of a profit-making undertaking or scheme, even if the…
Section 52A — Certain amounts disregarded in ascertaining taxable income
(1) Notwithstanding section 8-1 of the Income Tax Assessment Act 1997, losses or outgoings consisting of expenditure incurred by a taxpayer in the purchase or acquisition, after 7 April 1978, of any…
Section 63 — Bad debts
Where a debt in respect of the whole or a part of a payment that has, or will, become liable to be made under a qualifying security within the meaning of Division 16E is written off as a bad debt by…
Section 63D — Bad debts etc. of money-lenders not allowable deductions where attributable to listed country or unlisted country branches
(1) Subject to section 63F, if: (a) apart from this section and section 63F, a deduction would be allowable to a taxpayer: (i) under section 8-1 or 25-35 of the Income Tax Assessment Act 1997 in…
Section 63E — Debt/equity swaps
Meaning of debt/equity swap (1) For the purposes of this section, a debt/equity swap occurs if: (a) under an arrangement (defined in subsection (6)), a taxpayer discharges, releases or otherwise…
Section 63F — Limit on deductions where debt write offs and debt/equity swaps occur
Situations where limit is to be applied (1) If: (a) apart from this section, a deduction (the current deduction) would be allowable to a taxpayer: (i) under section 8-1 or 25-35 of the Income Tax…
Section 63G — Bad debts etc. of trust not allowable in certain circumstances
If: (a) a deduction is allowable from a trust’s assessable income of any year of income: (i) under former section 51 of this Act, under section 63 of this Act or under section 8-1 or 25-35 of the…
Section 65 — Payments to associated persons and relatives
(1B) Where, by virtue of section 26-35 (Reduction of deduction for amounts paid to related entities) of the Income Tax Assessment Act 1997, an amount is not allowable as a deduction in calculating in…
Section 70B — Deduction for loss on disposal or redemption of traditional securities
(1) Expressions used in this section that are also used in section 26BB have the same meanings in this section as in section 26BB. (2) Where a taxpayer disposes of a traditional security or a…
Section 73A — Expenditure on scientific research
(1A) This section has effect subject to Division 245 of the Income Tax Assessment Act 1997. (1) The following payments made, and expenditure incurred, during the year of income (other than any amount…
Section 73AA — Section 73A roll-over relief in the case of certain CGT roll-overs
Roll-over relief where CGT roll-over relief allowed (1) This section applies to the disposal of a building, or part of a building, by a taxpayer (in this section called the transferor) to another…
Section 78A — Certain gifts not to be allowable deductions
(1) In this section: agreement includes any agreement, arrangement or understanding, whether formal or informal or express or implied, and whether or not enforceable by legal proceedings (whether or…
Section 79A — Rebates for residents of isolated areas
(1) For the purpose of granting to residents of the prescribed area an income tax concession in recognition of the disadvantages to which they are subject because of the uncongenial climatic…
Section 79B — Rebates for members of Defence Force serving overseas
(1) Subject to this section, a taxpayer who, during the year of income, serves as a member of the Defence Force at an overseas locality is entitled, in his or her assessment in respect of income of…
Section 82 — Double deductions
Where the profit arising from the sale of any property is included in the assessable income of any person, or where the loss arising from the sale is an allowable deduction, and any expenditure…
Section 82KZLA — Subdivision does not apply to financial arrangements to which Subdivision 250-E applies
To avoid doubt, this Subdivision does not apply to: (a) a Division 230 financial arrangement (within the meaning of the Income Tax Assessment Act 1997); or (b) a financial benefit (within the meaning…
Section 82KZMA — Application of section 82KZMD
Overview (1) Section 82KZMD sets the amount and timing of deductions for expenditure that a taxpayer incurs in a year of income (the expenditure year), if: (a) apart from that section, the taxpayer…
Section 82LA — Application of Division
(1) This Division applies only for the purposes of: (a) calculating an eligible CFC’s attributable income for the purposes of Part X; and (b) defining convertible note. (2) A term used in paragraph…
Section 82SA — Interest on certain convertible notes to be an allowable deduction—where loan made on or after 1 January 1976
(1) Subject to the succeeding provisions of this section, section 82R does not apply in relation to a convertible note issued by a company where: (a) the loan to the company to which the note applies…
Section 82KZLB — How this Subdivision applies to deductible R&D expenditure incurred to associates in earlier income years
In addition to its application apart from this section, this Subdivision applies to expenditure deductible under section 355-480 of the Income Tax Assessment Act 1997 as if: (a) references in this…